A subsidiary of Macquarie Group Ltd is eyeing to takeover Redflex Holdings Ltd. In a statement to the ASX, Redflex Holdings Ltd. announced that it has received an indicative, non-binding and confidential proposal to acquire all of the issued capital of Redflex by a scheme of arrangement at a price of $2.50 per share.

Macquarie's takeover offer values the traffic enforcement products and services provider at just over $275 million.

Last Friday, Macquarie became a substantial holder of Redflex with a 7.5 per cent stake.

"Redflex does not intend to make any further announcement in relation to the proposal unless and until a binding proposal capable of being put to shareholders is received," said Redflex.

Redflex said that there is no assurance that any such binding proposal will ultimately be received.

The Redflex Board recommends shareholders to take no action at this time.

The South Melbourne-based company runs its own systems engineering operations, system integration technologies and Innovation Centre for research and development. It develops enforcement camera technology, owns and operates the largest network of digital speed and red-light cameras in the world.

Shares in Redflex Holdings traded at $2.30 per share yesterday.